Common use of Second Extension Election Clause in Contracts

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 2017-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in July 2023 to elect (the “Series 2017-1 Second Extension Election”) to extend the Series 2017-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in July 2024 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in July 2024 shall become the Series 2017-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20172012-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in July 2023 January 2018 to elect (the “Series 20172012-1 Second Extension Election”) to extend the Series 20172012-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in July 2024 January 2019 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in July 2024 January 2019 shall become the Series 20172012-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii3.06(b)(iii) of this Series 2022-1 Supplement, if the Series 20172022-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in July 2023 April 2027 to elect (the “Series 20172022-1 Second Extension Election”) to extend the Series 20172022-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in July 2024 April 2028 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in July 2024 April 2028 shall become the Series 20172022-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 20172015-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in July 2023 October 2021 to elect (the “Series 20172015-1 Second Extension Election”) to extend the Series 20172015-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in July 2024 October 2022 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in July 2024 October 2022 shall become the Series 20172015-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii3.06(b)(iii) of this Series 2021-1 Supplement, if the Series 20172021-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in July 2023 April 2027 to elect (the “Series 20172021-1 Second Extension Election”) to extend the Series 20172021-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in July 2024 April 2028 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in July 2024 April 2028 shall become the Series 20172021-1 Class A-1 Senior Notes Renewal Date.

Second Extension Election. Subject to the conditions set forth in Section 3.6(b)(iii3.06(b)(iii) of this Series Supplement, if the Series 20172019-1 First Extension Election has been made and has become effective, the Manager shall have the option on or before the Quarterly Payment Date occurring in July 2023 October 2025 to elect (the “Series 20172019-1 Second Extension Election”) to extend the Series 20172019-1 Class A-1 Senior Notes Renewal Date to the Quarterly Payment Date occurring in July 2024 October 2026 by delivering written notice to the Trustee and the Control Party; provided that upon such extension, the Quarterly Payment Date occurring in July 2024 October 2026 shall become the Series 20172019-1 Class A-1 Senior Notes Renewal Date.